ODP (NASDAQ: ODP) Issues Q2 2022 Earnings Guidance

ODP (NASDAQ: ODP – Get Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $ 0.78- $ 0.80 for the period. The company issued revenue guidance of $ 2.00 billion- $ 2.00 billion, compared to the consensus revenue estimate of $ 2.04 billion. ODP also updated its FY 2022 guidance to $ 4.10- $ 4.50 EPS.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of ODP from a buy rating to a strong-buy rating in a research note on Thursday, June 30th.

ODP Trading Up 1.5%

Shares of NASDAQ ODP opened at $ 36.84 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.60 and a current ratio of 1.04. The stock’s fifty day moving average is $ 34.66 and its 200 day moving average is $ 40.75. ODP has a 52 week low of $ 28.85 and a 52 week high of $ 48.51.

ODP (NASDAQ: ODP – Get Rating) last posted its earnings results on Wednesday, May 4th. The specialty retailer reported $ 1.27 EPS for the quarter. ODP had a negative net margin of 2.37% and a positive return on equity of 13.58%. The business had revenue of $ 2.18 billion for the quarter, compared to the consensus estimate of $ 2.13 billion. During the same period last year, the company earned $ 1.21 EPS. The firm’s revenue was down 7.9% compared to the same quarter last year. As a group, analysts forecast that ODP will post 4.3 EPS for the current fiscal year.

Institutional Investors Weigh In On ODP

Several hedge funds and other institutional investors have recently made changes to their positions in ODP. Bank of America Corp DE grew its stake in ODP by 36.4% in the 1st quarter. Bank of America Corp DE now owns 58.377 shares of the specialty retailer’s stock valued at $ 2,675,000 after buying an additional 15,590 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of ODP by 32.0% during the 1st quarter. Gabelli Funds LLC now owns 43,942 shares of the specialty retailer’s stock valued at $ 2,014,000 after purchasing an additional 10,641 shares during the last quarter. Cannell Capital LLC grew its holdings in shares of ODP by 3.4% during the 1st quarter. Cannell Capital LLC now owns 683,827 shares of the specialty retailer’s stock valued at $ 31,340,000 after purchasing an additional 22,693 shares during the last quarter. KB Financial Partners LLC grew its holdings in shares of ODP by 7.0% during the 1st quarter. KB Financial Partners LLC now owns 9,344 shares of the specialty retailer’s stock valued at $ 428,000 after purchasing an additional 608 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in ODP by 264.6% in the 1st quarter. SkyView Investment Advisors LLC now owns 10,027 shares of the specialty retailer’s stock worth $ 460,000 after acquiring an additional 7,277 shares during the last quarter. 94.48% of the stock is owned by institutional investors.

ODP Company Profile

(Get Rating)

The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses. The company operates in two divisions, Business Solutions and Retail. The Business Solutions division offers office supply products and services, cleaning and breakroom supplies, technology services, copy and print services, and office furniture products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, the US

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